Azura Credit Union (KS) Adds Limited-Time 30-Month Bump Rate CD

For a limited-time, Azura Credit Union (Azura CU) is offering a 30-Month Bump Rate Share Certificate, which earns 3.38% APY. The minimum opening deposit is $500, with no stated balance cap. As stated on the Certificates Rates page,

The Bump Rate Option allows a member to choose to “bump” their rate one time for the 30 month Share Certificate, if the current rate being offered is higher.

To activate the bump rate, the account holder must contact Azura Credit Union: should the rate increase, the higher APY will not take effect automatically.

The 30-Month Bump Rate Share Certificate is also available as a IRA Bump Rate Share Certificate (Traditional, Roth, CESA), earning the same APY with the same deposit requirements.

In addition to being the most competitive Share Certificate in the product line, the 30-Month Bump Rate Share Certificate also has the highest APY in the CD product line – 85 bps higher than the 2.53% APY currently offered on the 60-month Share Certificate.

According to CSR, the Early Withdrawal Penalty for the terms of 12-48 months is 180 days pf dividends on the amount being withdrawn. Partial withdrawals and early closures are both permitted.

CSR also mentioned that dividends can be “compounded to the Bump Rate Share Certificate, transferred to another Azura account, or paid out by check." Maturing funds will be distributed by cashier’s check to the address on file or transferred to an Azura checking or savings account. The 30-month Bump Rate Share Certificate will automatically renew as another 30-month Bump Rate Share Certificate after the ten-day grace period.

Availability

Headquartered in Topeka, Kansas, Azura Credit Union’s field of membership (FOM) is primarily community-based, with individuals who live, work, or worship in any of the following 54 Kansas counties, eligible for membership. (FYI – nine counties have been added to the FOM since my March 2022 blog post)

Northeast Counties: Atchison, Brown, Doniphan, Douglas, Jackson, Jefferson, Johnson, Leavenworth, Lyon, Marshall, Nemaha, Osage, Pottawatomie, Riley, Shawnee, Wabaunsee, Wyandotte.

Southeast Counties: Allen, Anderson, Bourbon, Coffey, Franklin, Greenwood, Linn, Miami, and Woodson.

Northcentral Counties: Barton, Chase, Clay, Cloud, Dickinson, Ellsworth, Geary, Jewell, Lincoln, Marion, McPherson, Mitchell, Morris, Osborn, Ottawa, Republic, Russell, Saline, Smith, and Washington.

Southcentral Counties: Butler, Harvey, Kingman, Pratt, Reno, Rice, Sedgwick, Stafford,

Employment: Employees/retirees of AT&T, Goodyear Tire & Rubber, Southwestern Bell Communications, U.S. government agencies (including local, municipal, or state governments) also qualify for membership, as do employees/retirees/members of American Legion Post 400, TARC, or United Steelworkers Union Local #400. All employees and students of any Kansas educational institution are also eligible to join.

Relationship: Immediate family members of anyone eligible for membership are welcome to apply. Immediate family includes spouse/former spouse, parent/step-, sibling, child/step-, grandparent, or grandchild.

Joining Azura CU can be done online, or at any of nine Kansas branches located in Lenexa, and Topeka (8).

A Primary Savings account is the required membership share account to join Azura. It may be used as a traditional savings account but a minimum of $5 must be maintained for membership.

While savings, checking, and Money Market accounts can be opened online, certificates must be opened at any of the above-mentioned branches or by phone (800.432.2470).

Azura CU participates in the CO-OP ATM Network, giving its members access to more than 30,000 surcharge-free ATMs through the country.

Credit Union Overview

Azura Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.25% (excellent) based on March 31, 2022 data. In the past year, Azura CU increased its total non-brokered deposits by $14.32 million, an above average annual growth rate of 2.35%. Please refer to our financial overview of Azura Credit Union (NCUA Charter # 61823) for more details.

Azura Credit Union was established in 2016 when Educational Credit Union and Quest Credit Union “merged as equals,” combining approximately the same number of members and total assets. Educational CU was founded in 1939 as the Topeka Teacher Credit Union, while Quest CU was established in 2010 through the merger of Credit Unions United (est. 1951) and Credit Union One of Kansas (est. 1956). Currently the sixth largest credit union in Kansas, Azura Credit Union has more than 58,500 members and assets in excess of $706 million.

When I think of the word “azure,” I think of tropical locations like the Maldives or Fuji, not Kansas. The Azura CU website explains the re-branding:

Why Azura? One of the reasons the new name was selected is the tribute it pays to the beautiful, azure blue Kansas sky. With a combined 140 years of service in Kansas, both credit unions wanted to be mindful of their heritage as they developed their plans to move forward. The name was created by combining the words "azure", meaning clear blue sky, and "terra", meaning land.

How the 30-Month Bump Rate Share Certificate Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM and have minimum deposit requirements of $10k or less, two banks have higher rates than currently offered on the Azura Credit Union 30-Month Bump Rate Share Certificate. The following table compares the 30-Month Bump Rate Share Certificate to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

The above information and rates are accurate as of 8/26/2022.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table.